Audubon County Republican. [volume] (Audubon, Audubon Co., Iowa) 1885-1894, 1887-01-06
INTERSTATE COMMERCE.
A Feyerish Stock Market Caused by the
Proposed Bill for Regulation,
Both sides or the Question.

WASHINGTON. Dec e9.--The most i'm,
oortant question of this session will be
the Interstate commerce bill 1t is al.
| most sensational In the effect upon rail,
| road securities and has demoralized the
| stock market more than once, The
ominous shadow of the bill has caused a
very material shrinkaye In values in
Wall street and the worst has not yet
come, After the holidays when the bill
will be under discussion. its influence
will be felt throughout the land, but by
the time the vote Is taken upon its pas
sage ita pressing effects will have been
largely discounted by brokers and prices
will then be down to the bottom, The
New Icrh bears are active on the theory
that the bill will pass, and about every,
body believes that that will be the result.
The people appear to unanimously favor
the measure, and II Is known that both
houses of Congress have been closely
tanvassel with the result that the bill
will have majority. Why such import,
ant and useful legislation should have
such disastrous effects upon the stock
market is hard TO explain. Certain peo
pie maint ,in that all railroad paper" IL
infected md that the Interstate com
merco will simply bring us down to a
specie badS, rs IL were, and therefore The
measure Is to be commended They
assert tb Vt the values reduced to bed
rock will result In enormous benefit To
the county.
The railroad people on the other hand
contend that il the bill IL pushed to a
vote during The present session tinan.
cial crisis can scarcely be averted, and
that wide spread ruin will follow The
railroad interests they say sre of such
magnitude, and are so intimately cpnuec-
ted with other active interests of the
country. that blow struck now will be
felt throughout the land In foreign
markets the supposed effects Of the In.
ter~State commerce bill. have no doubt
been seriously magnihed until London
and Frankfort bondholders are becoming
nervous. These money len lers believe
that the American Congress Is capable Of
turning out any quantity of vicious
legislation and they cannot understand
the situation. Some Congressman are
even accused of ngitating tho bill to
enable their friends to raid the market
with success and then divide the profits.
or course IL IL we'll known that many
Senators and members deal In stocks six
days in the week. They are provided at
the capitol telephone and telographic
facilities for any amount of buying and
selling of all kind Of railroad and other
securities. Agents of the brokerage
houses are ready IN the lobby ~ execute
orders at a minutes notice. During tho
session Of Congress the stock wires to the
capitol are kept constantly In use, and
thousands OF dollars are daily lost and
won by our legislators The late Rep.
resentative Price Of Wisconsin made
big roll Of money in his deals. Repre-.
sentative Reid OF North Carolina has
disappeared. largely In debt, ii Is said.
During the last session Of Congress
he dropped S25, 600 trying to raid stocks,
which would not break. A visit to one
Of our dozen bucket shops up town will
convince the most skcptical Of the enor-
nous amount of speculation INDUCED In
by congressman. Senators are affected
with the mania as well as members, and
il Is not strange that the railroad people
believe that our national Legislators are
trading upon the fears and necessities of
the transportation interests.